Crypto-Currencies: Bitcoin, Litecoin and Ethereum for June 13th

I plan to cover just three cryptos every week in this post: Bitcoin, Litecoin, and Ethereum. These instruments provide trading opportunities with out sized gains. I hope the analysis presented here helps you profit in these instruments.

BTCUSD — Small three back appears to have retested the low and it appears the turn is in. Confirmation of the turn occurs above the middle band which is currently being tested. Break and convert we open new target at 78,554. Be aware that this is a consolidation that appears to be a triangle. On RSI is does not have the characteristics of a triangle so more likely we break up directly. 30% chance of a lower low.

 

ETHUSD – Still in the process of testing middle band on a daily basis. Waiting for resolution, lean is still bullish here.  Looking for a conversion of 2682 this week and more upside into target at 5432

 

LTCUSD – Retest of the low here and a three back flag which should break up. The key here is still middle band on a daily basis to convert into support. No triangle here, expecting higher prices.

 

So far so good on the reversal discussed a few weeks ago. Currently expecting the three back flags to break up and expecting middle bands to confirm the next rally across the board. USD should continue to devalue and expecting Cryptos to continue to be bullish. All retracements are a buying opportunities with volatility to come. I remain bullish Crypto’s. Trade Smart and Trade Safe.

Written by:

Stan Nabozny

Stan is a 20 year retail trading veteran and Co-Founder of The Art of Chart. His specialties include using futures and options to trade Energies, Precious Metals, Equities, Currencies, Bonds, Softs, Grains and other commodities. Stan believes that Risk Management and Trader Psychology are more important that technical analysis and spends his time teaching and coaching other traders on these topics. Stan uses various trading systems and technical analysis approaches that integrate time and price in his work. See his latest articles here and www.huffingtonpost.com.

13th Jun 2021

Leave a Comment

Your email address will not be published. Required fields are marked *